Insurer ups gross written premiums by over a fifth in Romania

Insurance group Vienna Insurance Group increased its gross written premiums in Romania by 21.7% reaching EUR 100.3 million in the first three months of the year. Premiums for damages and accidents rose by 21.8%. Life insurance premiums went up by 21.1% to EUR 16.6 million. The increase was due to the partnership with BCR, the local subsidiary of Erste Group, for the distribution of unit-linked premiums. The company recorded in the first quarter of the year a net profit of EUR 1.8 million. “The restructuring measures in Romania have paid off,” reads the press release. At a group level, the gross premiums underwritten by VIG increased by 0.9% to EUR 2.8 billion. editor@romania-insider.com